16 May 2012 - The Philippine Embassy in Kuala Lumpur said today that the first Philippines-Malaysia Investment Partnership Forum will be held on May 29 at the Royal Chulan Hotel in Kuala Lumpur.
The forum will be highlighted by a presentation on investment climate and opportunities in the Philippines and a keynote address by Philippine Vice President Jejomar C. Binay, who is visiting Malaysia for the event.
Malaysian Minister of International Trade and Industry Y.B. Dato' Seri Mustapa Mohamed will also give his remarks.
Co-organized by the Embassy, the Asian Institute of Management (AIM) Alumni Association of Malaysia (Kelab AIM) and the Asian Strategy & Leadership Institute (ASLI), the by-invitation event aims to bring together various business leaders from the Philippines and Malaysia to exchange ideas how to further enhance economic and investment relations between the two countries.
Business tycoon and AIM founder Washington Sycip will be present to give a lecture to formally inaugurate the Professor Gabby Mendoza Management Lecture during lunch.
Genting Group is the main sponsor and San Miguel Corporation/Petron Corporation is the strategic partner of the forum. AlloyMTD Group (formerly MTD Capital Berhad) is a corporate sponsor and Resorts World Manila is hosting the luncheon lecture.
Identified priority sectors to be taken up at the forum include tourism and tourism infrastructure, mass housing, real estate development, business process outsourcing/information technology (BPO/IT) services, logistics and supply chain, transportation, Islamic banking/finance, energy/electricity, and agro-business.
Some 34 chief executive officers from leading Philippine companies are expected take part in the forum, including food and beverage manufacturer San Miguel Corporation, petroleum company Petron Corporation, power distributor Manila Electric Company (MERALCO) and real estate and construction companies Megaworld Corporation, Alphaland Corporation and DMCI Holdings, Inc.
Officials from the Philippine Stock Exchange, the Philippine Chamber of Commerce and Industry, and other Philippine chambers of commerce are also expected to be present during the event.
"The investment forum is a perfect opportunity to further strengthen Philippine-Malaysia economic partnership, which has been improving in leaps and bounds. Bringing our respective business sectors together is expected to herald a sea change in bilateral relations, particularly in terms of boosting trade and investments between our two countries," Ambassador J. Eduardo Malaya said.
The Philippines and Malaysia are experiencing a surge in two-way investments, as evidenced by the recent joint venture between PLDT Global and Axiata Corporation, investment of CIMB Bank in Bank of Commerce worth some RM1 billion (P196 billion), the expansion of operations of MTD Corporation and Genting Resorts World in the Philippines, as well as the entry of San Miguel Corporation in Esso Malaysia Bhd. through investments worth at least US$610 million.
In 2011, Malaysia was the Philippines' ninth largest trading partner, with total trade amounting to US$3.7 billion, while it was the Philippines' 11th largest export and eight largest import market. Total Philippine exports to Malaysia in 2011 were valued at US$1 billion, while imports from Malaysia during the same year amounted to US$2.6 billion.